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China cotton and PSF market status quo and outlook
——Cheng Sujing, CCFGroup

2023-05-25 13:45:19

Cheng Sujing, lead analyst from CCFGroup, delivers her speech of China cotton and PSF market status quo and outlook.cheng.jpg

The report is mainly divided into two parts.

 

First, China cotton market status quo and supply/demand. In 2023/24 season, China cotton planting areas are likely to reduce and there is speculation on weather condition. Cotton imports are expected to increase, and with narrower price spread, imported cotton and imported cotton yarn may have opportunites. Downstream market still has demand for cotton, but cotton prices are dragged down orders and profits.

 

Second, China PSF market status quo and supply/demand. PSF spread has been gradually approaching the two-year average value, and PSF plant operating rate and inventory performs not well. Downstream polyester yarn inventory is high and spinners are cautious to purchase feedstock. The supply and demand situation is better than the same period of last year, and the consumption grows apparently, but there are large capacitity expansion plans, which may put pressure on the market.


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